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Kimanol General Assembly reviews 77.7% capital cut
Methanol Chemicals Company (Kimanol) has decided to hold an extraordinary general assembly meeting on July 14, 2026, to discuss a reduction of the company's capital by 77.76%, from approximately 674.5 million SAR to 150 million SAR. The purpose of this reduction is to offset accumulated losses, which reached around 577.9 million SAR by the end of the third quarter of 2025. The reduction will involve decreasing the number of shares from 67.45 million to 15 million shares, with the redemption and sale of fractional shares in the market to distribute the proceeds to shareholders. This resolution is subject to shareholder approval and aims to improve the company's financial position without affecting liabilities or equity rights.
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